Venise Reilly sells Toorak penthouse pre-completion for $7 million-plus

Former Visioneer Managing Director turned developer Venise Reilly has sold the penthouse of her high-end apartment building under construction at 42 Washington Street, Toorak.

It is the first reported apartment sale in Toorak this year to surpass the $7 million mark.

With an internal area of approximately 320 square metres, the residence includes a four-metre vaulted ceiling entrance, four car private garage with direct internal access and its own lift, internal and external fireplaces, and three bedrooms.

Artist’s impression of a living room within one of the five dwellings.

The purchaser will downsize from elsewhere in the suburb.

The complex, with five oversized apartments, is being marketed by Michael Armstrong, Tim Staughton and Phillip French of agency Kay & Burton. Another apartment within the complex has sold for about $5 million.

The agents listed a ground floor residence this month.

“Collaborating with Demaine Partnership and Visioneer Builders, I have been hands-on as the developer of this project – from selecting and sourcing materials and finishes to working closely with the purchasers,” Ms Reilly said. “This has been key to the project; it has been personally fulfilling working as the developer this time around”.

Artist’s impression of an outdoor courtyard, part of a ground floor unit.

“The quality stands out at 42 Washington” Mr Armstrong added. “This is the level buyers are demanding in the current market.  The level of attention Venise provided throughout the sales process has also ensured all new owners had an enjoyable purchasing process – there is little wonder a new benchmark has been struck in Toorak for 2019”.

Last year, a local buyer paid $16.4 million for a 1000 sqm apartment within nearby 29 Washington Street. Visioneer was also the builder of this development, by Orchard Piper.

Marc Pallisco

A freelance property writer and analyst, Marc is a co-founder of realestatesource.com.au.

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